ReadyForZero Vs. Mint

One of the most well-known web apps out there is Mint.com, which allows you to track your budget and your various financial accounts (like credit cards, checking account, etc.). Since a lot of people are using Mint already, we sometimes get asked to compare ReadyForZero vs. Mint.

The truth is, you can use both Mint and ReadyForZero. But if you’re wondering which is a better fit for you, the questions and answers below should be able to help you:

What is the difference between ReadyForZero and Mint?

The main difference between ReadyForZero and Mint is that ReadyForZero was designed specifically to help you get out of debt. In fact, your first step when signing up for ReadyForZero is to create a monthly plan for paying off your debt. And the interface shows you the target account (with the highest interest rate) so that you are 100% focused on your goal of being debt free.

On the other hand, Mint is intended as a broader tool and is not focused specifically on helping you manage and pay off your debt.

Another important difference is that you can make payments directly from within ReadyForZero, something that is not possible when using Mint. You can also manage all your credit and loan accounts within ReadyForZero, such as credit cards, student loans, mortgages, and auto loans.

Which online web app is best for getting out of debt?

As mentioned above, only one of these two web apps was built with the purpose of helping you pay off debt: ReadyForZero. For that reason, we’d recommend that anyone who is trying to become debt free use ReadyForZero. There is no other tool like ReadyForZero that is geared toward people trying to pay off debt.

See below for a screenshot of the ReadyForZero interface for paying off debt:

rfz_screenshot_2012_august_progress

Which is better: ReadyForZero or Mint?

Both of these tools can be extremely helpful in different situations. We believe ReadyForZero is better for getting out of debt, but the two tools can be very complementary. If you need help tracking your budget – and identifying how much you spend on different categories each month – then Mint will be an excellent tool for you.

Is ReadyForZero similar to Mint?

As mentioned above, the two tools are quite different in their focus and how they help you manage your finances. But they are similar in the sense that they both allow you to link up accounts using your online credentials and they each show you information and make recommendations based on that information. In a broad sense, both are classified as personal finance management tools.

We hope you’ll find the right tool to fit your needs. And if your goal is to get out of debt, we think you can’t go wrong with ReadyForZero.

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Let us know what you think in the comments below.

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  • http://www.youngadultmoney.com/ DC @ Young Adult Money

    I haven’t tried out ReadyforZero yet, but I will put it on my list of things to review. Thanks for sharing the comparison with Mint!

    • http://www.twitter.com/bwfeldman Benjamin Feldman

      Great! Let us know what you think of it. And thanks for your comment.

  • Andrea

    I would love to use Ready for Zero but it can’t work with a credit card I have from Barclay, so I’m still with Mint. When all the banks participate, it will be a great option.

    • http://www.twitter.com/bwfeldman Benjamin Feldman

      Hi Andrea, we are continuously working to increase the number of banks that work in ReadyForZero. Hopefully if you try again (now or in a few months) it will work for you at that time. Thanks for your comment.

      • BlogaHollic

        So, basically mint is better…

        • http://www.twitter.com/bwfeldman Benjamin Feldman

          Hi BlogaHollic, actually both products have occasional trouble linking to certain accounts. If your accounts don’t work in ReadyForZero, then maybe Mint can work for you. But we are also always working to get more accounts to link, and for the majority of people who sign up, it’s working great. Hope we can make it work for you too!